Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Edible Oils in South Africa

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Executive Summary

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PROSPECTS

Health and wellness diets help to bolster consumer support for edible oils

The Banting diet continued to sweep the country in 2018, with this diet plan advocating the consumption of fats. This resulted in sales growth of edible oils, products that proponents of this diet plan consider healthy, such as olive oil.

Consumers remain price-sensitive when choosing edible oils

The majority of South Africans are less concerned with health benefits when buying edible oils and instead focus on products that offer value for money. Consumers’ disposable incomes are under pressure with increases in fuel prices as well as an increase in VAT by 1% for the first time since 1994.

Edible oils expected to register steady growth over the forecast period

The overall category is expected to record steady growth over the forecast period, as edible oils is a well-established industry and consumption levels are relatively steady; however, some types of edible oils are expected to be more dynamic than others. For instance, olive oil is set to record steady growth at constant 2018 prices, though this will be from a low base, with the much larger category of sunflower oil also set to record a positive performance.

COMPETITIVE LANDSCAPE

Cape Oil & Margarine leads edible oils in 2018

Cape Oil & Margarine led edible oils in 2018, followed some distance behind it by Wilmar Continental Edible Oil & Fats, thanks to the success of its Excella brand.

Private label remains a significant competitor

Private label continued to perform well, gaining further value share in 2018 over the previous year and was close to achieving a double-digit share. Shoprite Checkers ranked fourth in edible oils overall, followed by Spar Group; however, private label edible oils are not always cheaper in comparison to branded products and many price-sensitive consumers will switch to cheaper brands if these are available.

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